Norfund invests in 11 MW of C&I solar in Vietnam
Solar panels. Author: Chris Baird. License: Creative Commons. Attribution 2.0 Generic
Norfund, the Norwegian government’s investment fund for developing countries, said on Tuesday that is investing in an 11-MW commercial and industrial (C&I) portfolio of rooftop solar plants in Vietnam to take a 35% stake in the scheme.
The portfolio was developed and built by Norwegian clean energy solutions firm Norsk Solar AS (FRA:62L), with support from the Finnish state’s majority-owned impact investor Finnfund through their joint venture Nordic Impact Cooperation AS (NIC).
Norsk Solar’s project consists of setting up 11 solar power systems on top of shopping centres owned by retail conglomerate Central Retail in Vietnam. The Norwegian firm also signed a power purchase agreement (PPA) with Central Retail to back the project.
The first of these systems were finished and started producing power in December 2021, Norfund said.
